Virginia Amendment 3 (1998)

Virginia Amendment 3, also known as the Economic Development Areas; Governing Bodies Act, was on the 1998 election ballot in Virginia. It was defeated, with 43.6% of voters in favor.

Text of measure

The language that appeared on the ballot:

This amendment concerns joint efforts by two or more localities to develop a specific land area such as an industrial park. The amendment gives the General Assembly a new option concerning these joint efforts. This amendment is broader in scope than Amendment #4. The General Assembly will be able to provide for local agreements to develop a specific area with a special governing body to oversee the area. The participating localities may agree to share the economic benefits and costs of the development. The amendment exempts fiscal commitments made by the localities from certain constitutional requirements or limits on local debt.